Commends resilience of SMEs with zero-closures; urgent support imperative to boost recovery The Sri Lanka Chamber of Garment Exporters (SLCGE) commended the remarkable resilience of its apparel SME membership for rapidly adapting to tough global market conditions and ending the year with zero closures. As the apex body for SMEs in the apparel sector, the…
Air Astana is the latest addition to the international Aviation family, and resumed flights to Sri Lanka recently. This was a plus point for Sri Lanka for its recognition as a world class travel destination. The passengers and crew of the aircraft were warmly welcomed by the Tourism Information Centre officers (TIC) of the Sri…
Further strengthening the country’s economy with the second tranche of the IMF – State Minister for Finance Shehan semasinghe State Minister for Finance Mr. Shehan Semasinghe declared that work on more than 200 development projects, initiated with foreign aid but halted midway, is set to recommence in the first quarter of the next year. Minister…
Boosting innovation and fueling business acumen, Macubator, the external accelerator by MAC Holdings (Pvt) Ltd, offers an exciting platform to give wing to the startup ambitions of aspiring entrepreneurs and university students. Macubator by Guardian Angels Fund is supported by a diverse panel of industry experts and knowledge partners from SLASSCOM (Sri Lanka Association for…
The Chinese Academy of Sciences (CAS) and the BOI recently concluded a series of meetings and fact-finding visits to the BOI zones and find new opportunities for fruitful long-term bilateral relationships. The NetZero commitment of the nations and industries and sustainable strategic planning of the BOI has paved the way to develop its zones management…
On the invitation of the Speaker of Parliament Hon. Mahinda Yapa Abeywardana and Parliamentarian Hon. Dayasiri Jayasekara, COYLE and The National Chamber of Exporters, engaged in bilateral business discussions with the Busan Economic Promotion Agency of South Korea. The aim of this dialogue was to bolster inward industrial investment in Sri Lanka and broaden operational…
By Dr Lakmini Fernando Realising Sustainable Development Goals (SDGs) by 2030 requires substantial investment allocation, especially for developing economies like Sri Lanka. A recent IPS study found that Sri Lanka needs an additional investment of USD 1.4 trillion or 12.5 percentage points of GDP by 2030 to achieve SDGs. Despite Budget 2024 allocating 5.4% of…
The Food and Agriculture Organization of the United Nations (FAO) handed over two specially designed climate resilient fishing boats and 30 modified fish display stalls to the Ministry of Fisheries, in line with FAO’s commitment to sustainable development and addressing climate change challenges. The SL20 and SL23 fishing boats, measuring 6.3 and 7 meters in…
The Ceylon Chamber of Commerce appreciates the Board approval of the International Monetary Fund’s (IMF) completion of its first review under the 48-month Extended Fund Facility (EFF) with Sri Lanka. This milestone, granting Sri Lanka access to approximately US$337 million, underscores the nation’s commitment to fulfilling key performance criteria and benchmarks. Notably, this includes the…
Fitch Ratings: Fitch Ratings expects continuity to be the main theme of the elections among our rated Asian sovereigns due in 2024, but we view the chance of election outcomes influencing credit profiles as being higher in Pakistan (CCC) and Sri Lanka (Restricted Default, ‘RD’), which are both dependent on successful IMF programme implementation and…
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